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0.50% Jul-32 DSL

DUTCH AUCTION PREVIEW
MNI (London)
  • On offer today: E1.5-2.5bln of the 0.50% Jul-32 DSL (ISIN: NL0015000RP1)
  • 10-year DSL yields rose close to 100bp from the beginning of May to the June 16 high of 2.263%, and have since fallen back to 1.558% at the time of writing.
  • Spread to the 10-year Bund widened around 11bp from the beginning of May to the high of approx. 39.4bp on July 6. Spreads have since narrowed around 2.5bp off this high.
  • Timing: Results will be available shortly after the auction closes at 900 BST / 1000 CEST.

Auction history:

DateIssuedAvg yieldBid/coverPricePre-auctOperation
Current1.558%
12-Apr-22E2.505bln1.131%93.9393.79Auction
15-Feb-22E5.956bln0.572%99.28NewSynd

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